Medivation Confirms Receipt of Unsolicited Proposal From Sanofi
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Medivation (MDVN) Rejects Sanofi's (SNY) Unsolicited Proposal
April 29, 2016 8:46 AM EDTMedivation, Inc. (NASDAQ: MDVN) today announced that its Board of Directors, after consultation with its financial and legal advisors, unanimously determined that the unsolicited proposal from Sanofi (NYSE: SNY) to acquire Medivation for $52.50 per share in cash substantially undervalues Medivation and is not in the best interests of the company and its stockholders.
"Over the past several years, we have established a world class oncology franchise and a unique, diversified and highly-promising late-stage development pipeline," said David Hung, M.D., Founder, President and Chief Executive Officer of... More
Sanofi Has Room for Higher Medivation (MDVN) Bid, Credit Suisse Says; Deal Could Be 7% Accretive in 2020 at $80
April 28, 2016 10:33 AM EDTCredit Suisse analyst Kennen MacKay weighs in on Medivation (NASDAQ: MDVN) after Sanofi launched a $52.50/share hostile bid.
The firm's recent takeover analysis suggested MDVN could be worth $55/share to Sanofi and beleives their conservative estimates indicate Sanofi has more... More
